Notice of Withdrawal - Income tax: property development: valuing land held as trading stock at cost price

Draft Taxation Ruling TR 95/D15 is withdrawn with effect from today.

The decision by the Full Federal Court in FC of T v. Kurts Development Limited 98 ATC 4877; (1998) 39 ATR 493 addressed the major issues canvassed in the draft Ruling. Accordingly, the issue of the final Ruling is not considered necessary.